State of the Market #10 - Bitcoin to $50,000 within 6 months?

brothermic (68) · 7 years ago

thanks alot for your toughts on this :) I like to infom myself very good :)

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sirknight (67) · 7 years ago

$50,000 - wow! Though by crypto-standards and history this should probably come as no surprise. SK.

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praful (56) · 7 years ago

I don't think $50000 bitcoin is that far. Hope it reaches the milestone soon :)

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alishannoor (64) · 7 years ago

It will be so interesting if market goes like this i am sure bitcoin will hit it as soon as possible

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steemphotography (55) · 7 years ago

seeing your blog for the very first time interesting it was at first when i saw the title and still it looks kind of possible but do you think their will ever be a correction phase in upcoming time like we used to see previously

crypto-investor (61) · 7 years ago

Between here and 50k, there should be a correction... I would anticipate the bottom of that correction to be something like 13k to 14k if it happens. Thing is I would expect the correction to last a week or two at most.

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cityslicker (58) · 7 years ago

$50000 that's a huge target but seeing your analysis and the video make me think like its possible

starboye (53) · 7 years ago

2,360.52% increase over the year from todays date that's really mind blowing to see what its potential are it will be interesting to see will it moves that quickly

fellowsheep (35) · 7 years ago

Other coins like Vertcoin and LTC have more exponential gains

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blazing (70) · 7 years ago

The way it is moving right now is insane no more downtrends looks like thanks for the video analysis

killerkuasha (57) · 7 years ago

ow!!
but they were very helpful at that time..

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twister (49) · 7 years ago

I have a problem to believe BTC just continues growing without any major crash.

the use cases are low
development is inefficient or slow (seems like there is always an issue to get technical solutions at the same time other coins are developing nicely)
futures and bankers will try to short and cause the sell, however this is too risky atm
price is going up parabolic
regulation that may slow down crypto is also something that will happen if BTC gets too expensive.

There are some other reasons that are against the bubble theories.

BTC growth is consequence of the mass adoption (FB was also growing parabolic and never really went down)
There is a strong sentiment against traditional banking system and BTC becoming like religion probably robust, global and not easy to break.

If you consider these points, the question we all want to know is, what will prevail. BTC can go to 50k like you are saying or to 3k in next few years. How you see it?

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crypto-investor (61) · 7 years ago

Most of the points you raised are true but irrelevant to price movement. What gives BTC 90% of it's value is not functionality, development, or adoption. What gives BTC its value is that it is the base currency by which most cryptocurrencies trade. It is a trading currency for cryptocurrency. This is the basis for its value and it's #1 use case.

So as more interesting cryptocurrencies come online which happens regularly, BTC's use cases increases. What we have been told is BTC's use cases as a world currency, is not really true. The transaction fees are just too high, and cryptocurrency is too complicated to use in that manner for BTC to be a real everyday currency. As a reserve currency for cryptocurrency trades and crypto-investing, BTC does have a valid use case. This valid use case is worth at least 1 trillion in market cap.

As for the parabolic crash, I am expecting it. It should happen within 12 months. I am also expecting it becomes 5x over-valued before it happens. 3k is too low for that crash though, now that the CME group has adopted BTC and other major world exchanges such as Russia may follow. As the reserve currency for all crypto-trades, which is a growing industry, I believe 10k is an adequate long-term pricing for the next 12 months or so... in other words I believe investors who are rich are willing to price support BTC at 10k.

The only exception is a disastrous news event which could always happen to BTC, then there might be a mega crash. Such as a major bug or some kind of damaging network event.

Regs don't bother me too much... the worst sort of reg would be that exchanging BTC in the USA is illegal. If that happened, could be damaging, but unless a complete ban occurs in the US, not too concerned.

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loupio (34) · 7 years ago

What is the most promising Altcoin according to you?

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shailender (29) · 7 years ago (edited)

Nice update. Upvoted. It will be great if you share one more video where you cover altcoins which are worth investing now. Waiting for your next video on top 100 coins series.

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fellowsheep (35) · 7 years ago

He will say Navcoin n EOS, or Dash

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crypto-investor (61) · 7 years ago

You know me too well. :)

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crypto-investor (61) · 7 years ago

Hard to say. The market has moved up my favorites. I used to like Dash, EOS, and NAV, but since all have gone up huge in value, the best is kind of a relative thing.

Steem has the lowest downside still. EOS, Dash, NAV coin could all go down 50% if someone buys them today. Steem is unlikely to trade back below 1.75 in my opinion. So in terms of loss-protection Steem is nice even if the upside is not huge.

In terms of what could go up really big in the future... BTC at 10k (if it goes back there), I would buy it there. Seems silly but now that it's broke 10k, BTC is worth more due to the hype this has created. It's odd but true, that the higher in value it goes, the more it is worth due to the hype marketing created by it going up. If we see 50% declines in Dash, EOS, or NAV they are all buys there.

We may not get those declines soon, and the market may continue higher, though.

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ahlawat (76) · 7 years ago

excellent news! bitcoin top level

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ao1985 (29) · 7 years ago

Hello
Do u think cardano (ada coin) is that good project to invest,or its already went to high ?
What type of computer did u have,when it was hacked,windows or mac,planning to buy soon,but due your bad experience thinking of whick one is better...?
Thanks a lot ,going to send u some ether...
did buy some eos and nav,cause of u...
God bless

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crypto-investor (61) · 7 years ago

Cardano is not my favorite. It's a smart contracting coin with relatively no users compared to Ethereum. EOS is better in terms of future use cases. Considering cryptocurrency seems to like junk projects for a while, Cardano could still do good. People believe it's something, this fuels speculative pumps into coins to move them higher.

In many ways, I believe the IOTA pump has been due to their impressive website.

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ao1985 (29) · 7 years ago

Thanks a lot Ted!

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rehan12 (73) · 7 years ago

It just fall a little but but will hope it shall rise again !

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xalos (64) · 7 years ago

I am actually quite impressed how fast the market has moved in general. I kind of missed the pullbacks we used to have normally a few months ago.

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ao1985 (29) · 7 years ago (edited)

Do u think cardano (ada coin)and verge (xvg) is that good coins to invest,or its already went to high ?
Thanks a lot ...sent u some eth
DID buy some eos,cause i like your like no others analysis
GOD bless...

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crypto-investor (61) · 7 years ago (edited)

Hey, thanks for the support! Verge is a tough one. I like the fundementals, but it may be better to wait for the crypto market to cool down before looking at it. The mentality of the market may change too in 2018. What I mean is, at some point investors may actually care about which projects are actually used to do something, vs those things which are just projects. Verge as a project is nice. Verge as a possible world currency has zero chance of beating the main competitors like BTC, ETH, RIPPLE, DASH, ect. As long as actual users doesn't matter, and if the market were to cool down some for a time, I like Verge. May be overpriced if the market crashes soon.

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ao1985 (29) · 7 years ago

Thanks alot

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